Learn or Find Bookkeeping, Payroll, Accounting, QuickBooks, or Tax Terms
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Trade or business
A trade or business consists of any activity that occupies the time, attention, and labor of individuals for the purpose of earning a livelihood or making a profit. It includes the rendering of services to others as an employee for compensation, the carrying on of a profession, and every business occupation carried on for subsistence or profit and into which the elements of bargain and sale, barter, exchange, or traffic enter.